Commodities
Gold Prices Surge to ₹1.6 Lakh Amid US Dollar Decline
Gold prices surged to ₹1.6 lakh per 10 grams on MCX amid a decline in the US dollar. The gold price action remained strong, with the contract extending its uptrend and trading near ₹1,60,890.
The yellow metal is trading significantly higher in international markets, with spot prices around $4,642 per ounce up 1.5%. Silver traded 2.5% higher at $69.8 per ounce in US markets.
Crude oil prices cooled down slightly from one-month highs but were on track for a second week of strong gains due to the standoff between the US and Iran over the Strait of Hormuz.